Hyderabad, Oct 10 (UNI) The Agrasen Cooperative Urban Bank here has made rapid strides since its inception in 1998 with its present deposits touching Rs 59 crore, its Chairman Shiv Shanker Agarwal said today.
Addressing the press here, Mr Agarwal said the bank was running on profits since its inception and offering best dividends to its shareholders.
The total deposits were Rs 58.83 crore and net advances Rs 41.03 crore. The net profit was 72 lakh.
He said the operations of the bank were fully computerised and apart from the regular banking services, the bank was rendering other services such as e-seva where one could pay utility bills.
The bank had entered into agreements with other nationalised and private banks to issue demand drafts for any part of the country.
The bank had plans to open more branches in the twin cities to serve the economically weaker sections, backward classes and minorities.
Rajya Sabha Member Gireesh Kumar Sanghi would inaugurate the second branch at Malakpet in the city on October 12, he said.